Payment Workflow Solution
Finteq Workflow Solution – FWS
Our payment workflow solution is an image enabled payment and data origination utility which supports the controlled entry, validation, recording and reconciliation of routine business transactions to provide clean, error free data for subsequent transmission and processing.
The FWS solution uses a variety of pre-defined ‘type of work’ routines, each of which provides for the execution of a collection of analogous clerical activities. These activities can be configured to reflect specific ‘workflow’ requirements of a particular business process within an organisation. For example, a typical cheque deposit process within a bank may require the following activities:
- Scan encoded/un-encoded deposit slip and associated cheque.
- Quality assure scanned images according to predefined standards.
- Capture and reconciliation of financial amounts of transaction.
- Validation and/or verification of transaction details against predetermined parameters.
- Administrative routines for the correction of errors and exceptional situations that may occur.
- Dynamic control processes which manage the creation of error-free image and data files for subsequent processes, archival and audit requirements.
Typical ‘workflows’ containing a broad range of routine business activities have been developed for most financial processes including:
- Inward/Outward Clearing,
- Electronic Funds Transfer,
- Payments Returned/Unpaid handing and others.
Additional ‘types of work’ can easily be designed and developed to handle the activities associated with new business processes.
In addition to the payment processes already referred to, FWS can similarly be configured to cater for the routine activities included in ‘non-financial types of work’. For example, the control and administration of the clerical activities involved in:
- New customer origination.
- New product sales – loans and investments.
- Customer instructions, mandates and power of attorney.
- Signature handling – authorisation/authentication.
- Regulatory compliance processes – customer identification/authentication. (KYC)
The Finteq Workflow Solution provides a comprehensive platform for the creation of payment and non-financial data in a controlled and secure environment.